carborundum universal ltd (CU) Key Developments

Carborundum Universal Limited announced unaudited consolidated and standalone earnings results for the third quarter and nine months ended December 31, 2014. On standalone basis, for the quarter, the company reported net sales/income from operations of INR 2,892.8 million against INR 2,667.7 million a year ago. Profit from operations before other income and finance costs was INR 245.5 million against INR 139.8 million a year ago. Profit from ordinary activities before tax was INR 231.7 million against INR 112.9 million a year ago. Net profit after tax was INR 152.5 million or INR 0.81 per diluted share against INR 73.1 million or INR 0.39 per diluted share a year ago.
On standalone basis, for the nine months, the company reported net sales/income from operations of INR 8,585.1 million against INR 8,348.5 million a year ago. Profit from operations before other income and finance costs was INR 731.0 million against INR 710.1 million a year ago. Profit from ordinary activities before tax was INR 753.8 million against INR 742.8 million a year ago. Net profit after tax was INR 526.0 million or INR 2.79 per diluted share against INR 511.0 million or INR 2.72 per diluted share a year ago.
On consolidated basis, for the quarter, the company reported net sales/income from operations of INR 4,967.2 million against INR 5,159.1 million a year ago. Profit from operations before other income and finance costs was INR 322.8 million against INR 292.6 million a year ago. Profit from ordinary activities before tax was INR 393.9 million against INR 208.4 million a year ago. Net profit after tax and minority interest was INR 221.1 million or INR 1.17 per diluted share against INR 104.7 million or INR 0.56 per diluted share a year ago.
On consolidated basis, for the nine months, the company reported net sales/income from operations of INR 15,535.5 million against INR 15,688.3 million a year ago. Profit from operations before other income and finance costs was INR 1,100.6 million against INR 1,195.8 million a year ago. Profit from ordinary activities before tax was INR 1,115.9 million against INR 1,147.2 million a year ago. Net profit after tax and minority interest was INR 665.4 million or INR 3.53 per diluted share against INR 665.7 million or INR 3.55 per diluted share a year ago.

Carborundum Universal Ltd. announced that the Board of Directors of the company at its meeting held on January 29, 2015, approved an interim dividend of INR 0.75 per equity share (on a face value of INR 1 each). The interim dividend will be paid on February 21, 2015 with record date of February 10, 2015.

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